CARPENTER TECHNOLOGY CORP — Director's Dealing 2005

Jun 21, 2005

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: CARPENTER TECHNOLOGY CORP (CRS)
CIK: 0000017843
Period of Report: 2005-06-17

Reporting Person: CHAMBERLAIN RICHARD (VP and Corporate Controller)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2005-06-17	Common Stock	M	1000	$45.56	Acquired	1000	Direct
2005-06-17	Common Stock	S	1000	$57.98	Disposed	0	Direct
2005-06-17	Common Stock	M	1700	$49.75	Acquired	1700	Direct
2005-06-17	Common Stock	S	1700	$57.92	Disposed	0	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2005-06-17	Employee Stock Option (Right to Buy)	$45.56	M	1000	Disposed	2007-06-26	Common Stock (1000)	Direct
2005-06-17	Employee Stock Option (Right to Buy)	$49.75	M	1700	Disposed	2008-06-25	Common Stock (1700)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	363.7	Indirect

Footnotes

F1: Includes shares acquired under the Savings Plan of Carpenter Technology Corporation. The share balance under the Savings Plan of Carpenter Technology fluctuates due to rounding differences produced by the Plan's method of estimating shares.

F2: The reporting person was granted an option to buy shares of common stock under the Carpenter Technology Corporation Stock-Based Compensation Plan for Officers and Key Employees.